Context:
Finance Minister Nirmala Sitharaman visited Pine Labs’ Noida office. Acknowledged fintech‘s role in enabling secure, inclusive financial services, especially for merchants and MSMEs.
Push for Digitisation Across States
- FM emphasized that the Centre is incentivizing states to digitize records faster, especially through:
- 50-year interest-free capital expenditure loans
- Additional incentives for early adoption of digitization
- Stressed that while there is existing momentum on the ground, efforts need to scale up significantly.
Supportive Policy Plans for Fintech and Digital Exports
- Government aims to:
- Formulate fintech-friendly policies
- Promote India’s fintech innovations globally
- Referenced India’s G20 Digital Public Infrastructure Taskforce report, advocating plug-and-play, sovereign-compliant digital systems (e.g., API Setu, GSTN open APIs).
BS
